X Tag saved from administration by European PropTech
Posted on November 20, 2020 by Alistair Hardaker
European PropTech platform Plentific has announced its acquisition of X Tag (formally Gas Tag) after financial problems linked to COVID-19.
BusinessCloud announced that the Liverpool-based tech firm, which tracks the work done by gas engineers, had gone into administration in October with the loss of 28 jobs.
Following the acquisition, Plentific’s platform will become the only end-to-end SaaS-enabled marketplace solution providing integrated repairs, maintenance, and compliance services in the UK and Germany.
Founded in 2014, X Tag works with more than 50 social housing providers, local authorities, lettings agents, and property managers.
Its gas safety, electric and fire door compliance solutions allow customers to collect data from servicing, repairs, and maintenance activities in real-time through a central portal.
Its product suite will be integrated into the Plentific platform, providing landlords and property managers with a complete repairs, maintenance, and compliance management tool.
Cem Savas, CEO and Co-founder of Plentific, said: “As part of our growth strategy, this acquisition will accelerate our product development in compliance, offering our clients the most comprehensive suite of management and maintenance services on the market.
‘This aligns very well with our strategy to scale the platform organically and through acquisitions.
Plentific was founded in 2013 by Savas and Emre Kazan, and offers a platform of procurement technology for UK and German landlords.
John Roche, managing director, at X Tag said: “We’re delighted to be joining the team at Plentific.
“Cem and the rest of the team have created a platform that not only fills a gap in the market but also truly improves the experiences of both housing providers and tenants. As we move onto our next phase of growth, we will now be able to offer our clients around the UK, a wider range of services to support their needs.”